Blockchain can tackle supply chain failures exposed by COVID-19, boost economic recovery: WEF

Blockchain technology can help tackle supply chain failures exposed by the COVID-19 pandemic and also boost the economic recovery process, the World Economic Forum (WEF) said on Tuesday.
Releasing a ‘blockchain deployment toolkit’ to help organisations improve future pandemic preparedness and accelerate an economic rebound post COVID-19, Geneva-based WEF said it is aimed at helping leaders maximise the benefits and minimise the risks of the technology.
The WEF, which describes itself as an international organisation for public-private partnership, said crises such as the coronavirus pandemic dramatically increase pressure on governments and businesses to maintain resilient supply chains.
“The pressure created by the COVID-19 outbreak on global trade systems highlights an urgent need for global cooperation to maintain and strengthen the resilience of international supply chains,” it said.
Resilience in supply chains depends on trust, transparency and integrity, which can be improved …